Because of its inferiority, the primary focus of the God’s old covenant (made with Israel) is upon physical blessings and material wealth. In the new and better (i.e. vastly superior) covenant, the focus is upon spiritual blessings (Ephesians 1:3) and eternal wealth (Matthew 6:19-21, 33).
In David’s day, the blessedness of being God’s people was seen in having peace and physical prosperity. Therefore, David concludes Psalm 144 with these words: “Rescue me and deliver me from the hand of foreigners, whose mouth speaks lying words, and whose right hand is a right hand of falsehood—that our sons may be as plants grown up in their youth; that our daughters may be as pillars, sculptured in palace style; that our barns may be full, supplying all kinds of produce; that our sheep may bring forth thousands and ten thousands in our fields; that our oxen may be well laden; that there be no breaking in or going out; that there be no outcry in our streets. Happy (“blessed” in NASV and ESV) are the people who are in such a state; happy (“blessed” in the NASV and ESV) are the people whose God is the Lord!” (vv. 11-15).
As Jesus so graphically illustrated in Luke 12 (the rich farmer—vv. 16-21) and Luke 16 (the rich man—vv. 19-31), a superabundance of grain, livestock, and physical security is not humanity’s greatest, most essential need. Spiritual blessings in this life and treasures in heaven are.
Oh, how blessed are the people of God under the law of Christ! They have life abundantly on earth (John 10:10) and life eternally in heaven (Matthew 25:46).